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Record Nr. |
UNINA9910463622903321 |
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Autore |
Rosenberg Christoph B |
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Titolo |
Determinants of foreign currency borrowing in the new member states of the EU / / Christoph B. Rosenberg and Marcel Tirpák ; authorized for distribution by Christoph B. Rosenberg |
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Pubbl/distr/stampa |
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[Washington, District of Columbia] : , : International Monetary Fund, , 2008 |
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©2008 |
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ISBN |
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1-4623-7093-4 |
1-4527-1275-1 |
9786612841248 |
1-282-84124-6 |
1-4518-7031-0 |
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Descrizione fisica |
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1 online resource (26 p.) |
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Collana |
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IMF Working Papers |
IMF working paper ; ; WP/08/173 |
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Altri autori (Persone) |
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TirpákMarcel |
RosenbergChristoph B |
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Disciplina |
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Soggetti |
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Loans, Foreign - Europe, Central - Econometric models |
Loans, Foreign - Europe, Eastern - Econometric models |
Electronic books. |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Description based upon print version of record. |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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Contents; I. Introduction; II. Stylized Facts; III. Reasons for Foreign Currency Borrowing-Some Hypotheses; IV. Empirical Estimation; A. Model Structure and Data; B. Estimation Results; V. Conclusions; VI. References; APPENDIX I. Data Sources and Transformations; APPENDIX II. Model Specification and Robustness Tests |
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Sommario/riassunto |
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The paper investigates the determinants of foreign currency borrowing by the private sector in the new member states of the European Union. We find that striking differences in patterns of foreign currency borrowing between countries are explained by the loan-to-deposit ratios, openness, and the interest rate differential. Joining the EU appears to have played an important role, by providing direct access to foreign funding, offering hedging opportunities through greater |
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